Gaja Alternative Asset Management Shares End Over 5 PC Higher in Debut Trade

New Delhi: Shares of Gaja Alternative Asset Management Ltd ended over 5 per cent higher against the issue price of Rs 160 on Wednesday.

The stock started trading at Rs 185.20, registering a jump of 15.75 per cent from the issue price on the BSE. During the day, it surged 19.59 per cent to Rs 191.35. The stock finally ended at Rs 168.70, up 5.43 per cent.

On the NSE, it listed at Rs 185, up 15.62 per cent. The shares ended at Rs 168.67, rising 5.41 per cent from the issue price.

The company’s market valuation stood at Rs 2,378.84 crore.

The initial public offering of Gaja Alternative Asset Management Ltd was subscribed 31.33 times on the last day of bidding on Friday.

The Rs 550-crore IPO had a price band of Rs 152-160 per equity share.

The public issue had a fresh issuance of equity shares aggregating up to Rs 450 crore, and an offer-for-sale (OFS) of shares worth up to Rs 100 crore.

Proceeds from the fresh issue will be used for repayment of debt, seeding new funds and general corporate purposes.

Founded in 2004, Gaja Capital is a private equity and alternative asset management firm focused on providing growth capital to entrepreneurs. The firm has invested across sectors, including education, consumer and financial services.

Its investment portfolio includes companies such as TeamLease, Lighthouse Learning, RBL Bank, John Distilleries, Xpressbees, Educational Initiatives, LeadSquared and Signzy.

In January 2025, it converted from a private limited entity into a public limited company. It was renamed Gaja Alternative Asset Management Ltd.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)